Starting a business in Dubai requires making a number of important decisions. A firm name, an appropriate location, the right kind of license, and the ideal legal structure for your enterprise must all be determined.
You have a fundamental choice between the mainland and the free zone when it comes to the latter. Despite the fact that you can trade using any setup type in the UAE and elsewhere, they do differ in some important ways.
An additional benefit to setup freezone company in UAE is that It is a unique business environment that you receive in line with the nature of your organization. Additionally, the registration procedure is simple, and the Business Incorporation Zone branch’s business professionals can help you with it for a charge that is extremely affordable.
Advantages of Starting a Business in Freezone
Businesses in free zones have a number of benefits not available to mainland businesses. These advantages include the flexibility to repatriate capital and profits without restrictions, 100% foreign ownership without the need for additional approvals, and 100% customs tax exemption.
Free zone businesses can gain from fantastic networking opportunities, as well as mentorship and venture capital prospects, as many free zones are dedicated to particular industries and professions.
The majority of free zones also include virtual and flexible desk licensing alternatives, as well as on-site office and coworking spaces.
Steps to Start a Business in Freezone
Activity to be deployed: Adapt your business activity or activities to the DED’s published list of permitted activities. There are several options available. Only the tasks stated on your license are legal for you to perform. You can, however, start with a few activities and add more later.
Business Name: In the UAE, all free zone businesses are required to have a registered trading name. When making this choice, there are a few things to consider. A rigid yet simple to follow set of naming conventions must be followed. Again, a business setup specialist can assist you with this phase.
Apply for License: Making an application for the necessary free zone trading license is the next stage in launching a business in a free zone. After reviewing your business operations, the business advisers at the Business Incorporation Zone assist you in getting affordable free zone licenses in Dubai. Additionally, it’s a crucial stage because a bad license can result in insufficient operation.
Choose Location: The UAE-free zones must contain office space for businesses. Depending on your activity and the available Free Zones, you can either rent an office space or work from a virtual address.
The number of participants in your firm as well as your business activities determines the size of the office. As a result, you may start with a little area that is affordable and upgrade to a larger space as your business expands.
Visa Applications: To work in the UAE, you also need a resident visa. A chest x-ray, blood test, medical exam, and biometric scanning are a few of the phases in the visa application process.
When starting a new company in the UAE, it’s a good idea to work with a company formation specialist like BIZ to help you make sure that this is the case. In addition to managing your license application, BIZ can help you open corporate bank accounts and provide advice on the best financial institution to meet your unique needs.
Business Incorporation Zone (BIZ) is the ideal partner for everything related to business setup in Dubai, from beginning to launch and beyond. We are always here to help you with the procedures described above and to give you all you need to start, develop, and compete in the UAE.
